BofA Securities slashes price target on American Well Corporation [AMWL] – find out why.

American Well Corporation [NYSE: AMWL] surged by $0.08 during the normal trading session on Friday and reaching a high of $3.96 during the day while it closed the day at $3.92. The company report on November 7, 2022 that Amwell Announces Results for Third Quarter 2022.

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Amwell® (NYSE: AMWL), a leader in digital healthcare enablement, today announced financial results for the third quarter ended September 30, 2022.

American Well Corporation stock has also gained 17.72% of its value over the past 7 days. However, AMWL stock has inclined by 9.50% in the 3 months of the year. Over the past six months meanwhile, it has lost -13.66% and gained 38.52% year-on date.

The market cap for AMWL stock reached $1.06 billion, with 277.39 million shares outstanding and 220.63 million shares in the current float. Compared to the average trading volume of 1.54M shares, AMWL reached a trading volume of 707616 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about American Well Corporation [AMWL]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for AMWL shares is $5.13 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on AMWL stock is a recommendation set at 2.50. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for American Well Corporation shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 04, 2023. While these analysts kept the previous recommendation, Truist raised their target price to Hold. The new note on the price target was released on September 07, 2022, representing the official price target for American Well Corporation stock. Previously, the target price had yet another raise to $6, while Guggenheim analysts kept a Buy rating on AMWL stock.

The Average True Range (ATR) for American Well Corporation is set at 0.23, with the Price to Sales ratio for AMWL stock in the period of the last 12 months amounting to 3.91. The Price to Book ratio for the last quarter was 1.00, with the Price to Cash per share for the same quarter was set at 2.16.

AMWL stock trade performance evaluation

American Well Corporation [AMWL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.72. With this latest performance, AMWL shares gained by 16.67% in over the last four-week period, additionally sinking by -13.66% over the last 6 months – not to mention a drop of -17.30% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for AMWL stock in for the last two-week period is set at 67.08, with the RSI for the last a single of trading hit 76.50, and the three-weeks RSI is set at 60.93 for American Well Corporation [AMWL]. The present Moving Average for the last 50 days of trading for this stock 3.50, while it was recorded at 3.65 for the last single week of trading, and 3.89 for the last 200 days.

American Well Corporation [AMWL]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and American Well Corporation [AMWL] shares currently have an operating margin of -71.47 and a Gross Margin at +34.90. American Well Corporation’s Net Margin is presently recorded at -69.76.

Return on Equity for this stock declined to -14.32, with Return on Assets sitting at -12.49.

American Well Corporation’s liquidity data is similarly interesting compelling, with a Quick Ratio of 6.20 and a Current Ratio set at 6.30.

Earnings per share (EPS) analysis for American Well Corporation [AMWL] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for AMWL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for American Well Corporation go to 2.80%.

American Well Corporation [AMWL]: Insider Ownership positions

There are presently around $500 million, or 54.40% of AMWL stock, in the hands of institutional investors. The top three institutional holders of AMWL stocks are: BLACKROCK INC. with ownership of 19,327,912, which is approximately 3.958% of the company’s market cap and around 4.50% of the total institutional ownership; VANGUARD GROUP INC, holding 19,054,471 shares of the stock with an approximate value of $74.69 million in AMWL stocks shares; and CALEDONIA (PRIVATE) INVESTMENTS PTY LTD, currently with $68.71 million in AMWL stock with ownership of nearly -2.998% of the company’s market capitalization.

72 institutional holders increased their position in American Well Corporation [NYSE:AMWL] by around 11,508,376 shares. Additionally, 71 investors decreased positions by around 8,321,068 shares, while 37 investors held positions by with 107,604,294 shares. The mentioned changes placed institutional holdings at 127,433,738 shares, according to the latest SEC report filing. AMWL stock had 17 new institutional investments in for a total of 954,209 shares, while 25 institutional investors sold positions of 5,060,892 shares during the same period.

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